Latest / Stagflation Conversations with Fexingo: High Inflation, Slow Growth, and 1970s Echoes
How Stagflation Is Rewriting Commercial Lease Terms
Episode 13 of Stagflation Conversations with Fexingo dives into a quiet but sweeping shift in commercial real estate: the death of the five-year fixed lease. With inflation running hot and growth sluggish, landlords and tenants are rewriting contracts mid-term—tying rent escalations to CPI plus a margin, shortening lease durations, and embedding break clauses tied to economic triggers. Lucas and Luna examine new data from JLL showing that variable-rent leases now account for 38 percent of new office and retail deals signed in Q1 2026, up from 12 percent in 2019. They discuss what this means…
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